40 High Point Rd Unit F-206 · Islamorada, Village of Islands, FL 33070

$239,000

1 bd · 1.0 ba · 895 sqft · Condo · 111 Days on market

Built 1974 $715/mo HOA · 27% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +5.2/10.0
• Schools +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks

Nice and quiet 1/1 located in the desirable Plantation Villas on Plantation Key. This is a upper corner unit with Tile throughout. Impact Cat 5 hurricane windows and newer AC. Tub shower combination in bath. Large walk-in closet in bedroom with lots of storage and ceiling fans throughout. Beautiful Yard area for outdoor enjoyment. This development has a pool, clubhouse and picnic area. Located near Founders Park with lots of activities and beautiful beach.

Key facts

• Newer ac
• Pool
• Large walk-in closet

Tags

• UPPER CORNER UNIT
• IMPACT CAT 5 HURRICANE WINDOWS
• NEWER AC
• LARGE WALK-IN CLOSET
• BEAUTIFUL YARD AREA
• POOL

Property features AI

Finance

• Other: Located in FEMA flood zone AE; Lot less than 1/4 acre; Subdivision: Plant Villas; Deed restrictions: unknown; Tax exemptions: Homestead
• HOA & community: Mandatory homeowners association; HOA fee about $715/month; HOA includes cable, common area maintenance, building insurance, building exterior maintenance, and water; Association has first right of refusal; Pets allowed with restrictions; Rentals allowed with restrictions

Exterior

• Parking: Assigned parking
• Utilities: FKAA water; Public sewer hookup; Cable available; Separate electric meter; Separate water meter
• Home design: Multi-family attached; Built in 1974
• Construction: CBS construction
• Exterior features: In-ground pool; No porch or balcony; No waterfront; No waterview

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Wine cooler
• Flooring: Tile floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central A/C; Ceiling fans
• Interior features: Walk-in closet; Impact-resistant windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $239k.

Deal economics

• At list price, monthly cash flow is $-257 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (15.6% below list).
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $202k (15.6% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 0.3% in Islamorada, Village of Islands — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Monroe (town): math 50% / reading 55% proficiency, ranked #23 of 73 in FL (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 142 active listings in the ZIP; solid renter incomes; 332 units permitted in Monroe County in 2024 (42 in 5+ unit buildings).
• This rent runs 42% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $1k appreciation (0.5% local appreciation)).
• Monroe County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; list at $239k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $201,817 (15.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.74×
• Total profit: $-17,663
• Equity at exit: $74,946

10-year hold

• IRR: 0.4%
• Equity multiple: 1.04×
• Total profit: $2,858
• Equity at exit: $94,644

Cash invested: $66,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33070

• Home prices YoY: 0.0%
• Active inventory: 142
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,671 medium
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$715
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $-257

Break-even live

Break-even rent $2,996

Max offer price $201,817

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $715 · $8,580/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-19
   days on market $239,000 Active 111 DOM
2. 2026-06-18
   days on market $239,000 Active 110 DOM
3. 2026-06-17
   days on market $239,000 Active 109 DOM
4. 2026-06-16
   days on market $239,000 Active 108 DOM
5. 2026-06-15
   days on market $239,000 Active 107 DOM
6. 2026-06-14
   days on market $239,000 Active 105 DOM
7. 2026-06-13
   days on market $239,000 Active 104 DOM
8. 2026-06-10
   days on market $239,000 Active 102 DOM
9. 2026-06-09
   days on market $239,000 Active 101 DOM
10. 2026-06-08
    days on market $239,000 Active 100 DOM
11. 2026-06-07
    days on market $239,000 Active 99 DOM
12. 2026-06-05
    days on market $239,000 Active 96 DOM
13. 2026-06-03
    days on market $239,000 Active 95 DOM
14. 2026-06-02
    days on market $239,000 Active 94 DOM
15. 2026-06-01
    days on market $239,000 Active 93 DOM
16. 2026-05-31
    days on market $239,000 Active 92 DOM
17. 2026-05-30
    days on market $239,000 Active 91 DOM
18. 2026-02-28
    listed $239,000 Active
19. 2026-02-01
    historical
20. 2025-08-29
    historical $1,800
21. 2025-08-13
    listed $1,800
22. 2025-07-31
    listed $239,000 Active
23. 2025-07-30
    historical
24. 2025-07-07
    price $239,000
25. 2025-02-13
    price $249,900
26. 2025-01-29
    price $265,000
27. 2025-01-29
    historical
28. 2025-01-29
    listed $265 Active
29. 2024-05-29
    price $265,000
30. 2024-03-18
    price $275,000
31. 2023-11-18
    price $290,000
32. 2023-08-10
    listed $299,900 Active
33. 2020-05-15
    historical
34. 2016-10-24
    soldstatus $105,000
35. 2016-03-20
    listed $110,000
36. 2014-09-12
    soldstatus $88,000
37. 2014-01-06
    listed $84,500
38. 2006-08-02
    listed $240,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $32,046
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,564
• − Management: −$2,564
• − HOA: −$8,580
• − Depreciation: −$6,953
• Taxable loss: −$6,782
• Est. tax savings @ 24.0%: +$1,628
• After-tax cash flow: $-1,456/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Monroe
• NCES district ID: 1201320
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $56,955
• Composite: 45.51/100
• National rank: #2608
• State rank: #23 of 73 in FL

Livability — Islamorada, Village of Islands

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Islamorada, Village of Islands, FL
• County: Monroe County · 66,185 people
• Metro: Key West, FL
• Population (ZIP): 5,768
• Household income: $75,436
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 204.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 90,706 people
• By 2030: 96,308 · +6.2%
• By 2040: 106,565 · +17.5%
• By 2050: 116,500 · +28.4%
• By 2075: 141,423 · +55.9%
• By 2100: 151,947 · +67.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 22% Two or more races 12% Black 1%
• Hispanic origin (detail): Mexican 2% Cuban 15%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, Guatemala, Jamaica
• Languages at home: 80% English-only · Spanish 17% Russian/Polish/Slavic 2%

Political lean MEDSL · Monroe

• 2024 margin: R (+18.3) · D 40.5% · R 58.8%
• 2008→2024 swing: -23.2pp toward R · 2008: 4.9pp · 2024: -18.3pp
• All cycles: 2024: R+18.3 2020: R+7.9 2016: R+6.9 2012: D+0.4 2008: D+4.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.46%
• Current HPI: 1058.63
• Rent YoY: —
• Metro: Key West, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-0.4% since first listed

21 events — show timeline

• 2026-02-28 Listed $239,000 FLKMLS
• 2026-02-01 Listing Removed — FLKMLS
• 2025-08-29 Rental Removed $1,800 FLKMLS
• 2025-08-13 Listed for Rent $1,800 FLKMLS
• 2025-07-31 Listed $239,000 FLKMLS
• 2025-07-30 Listing Removed — FLKMLS
• 2025-07-07 Price Changed $239,000 FLKMLS
• 2025-02-13 Price Changed $249,900 FLKMLS
• 2025-01-29 Price Changed $265,000 FLKMLS
• 2025-01-29 Listing Removed — FLKMLS
• 2025-01-29 Listed $265 FLKMLS
• 2024-05-29 Price Changed $265,000 FLKMLS
• 2024-03-18 Price Changed $275,000 FLKMLS
• 2023-11-18 Price Changed $290,000 FLKMLS
• 2023-08-10 Listed $299,900 FLKMLS
• 2020-05-15 Listing Removed — FLKMLS
• 2016-10-24 Sold (MLS) $105,000 FLKMLS
• 2016-03-20 Listed $110,000 FLKMLS
• 2014-09-12 Sold (MLS) $88,000 FLKMLS
• 2014-01-06 Listed $84,500 FLKMLS
• 2006-08-02 Listed $240,000 FLKMLS